Two Real-World Lawsuits and Lessons Learned for Contractors

Things go wrong on a regular basis on construction projects. That's why contractor's liability insurance exists - to protect everyone involved. The policy holder is assured that an honest mistake or oversight will not destroy a thriving business, and the client and other stakeholders are assured that no matter what foreseeable event might come to pass, there is enough liquidity on the table to compensate them for damages incurred. Contracts contribute to damages There is the occasional straight-ahead case, but in most cases, determining a single party to be at fault is extremely difficult. Often, the actions or oversights of…

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